Hey Tou, I'm happy to quickly run through the dialogue I have with sellers and the process in general over a quick phone call if you'd like- I've purchased hundreds of homes directly from sellers. Briefly, you want to:
- establish current condition, renovation costs, market value, rent rates
- complete a proforma based on those fundamentals so you can begin to get an idea of what your financials are looking like
- from your proforma & fundamentals above, establish a price you can pay for each home & begin negotiation
Happy to provide more details where needed- good luck and reach out any time! Jake